Belgium’s Robovision has raised a $42m Series A round led by Target Global and Astanor Ventures to expand its operations across the US.
It’s one of the largest Series A rounds recorded in Belgium’s developing startup ecosystem, according to data platform Dealroom.
The startup, which helps integrate AI-powered computer vision with robots, has also converted the $23m convertible loan it took in 2022 — which increases its total funding to $65m.
What does Robovision do?
Robovision has developed an AI-powered computer vision platform that gives machines the power to see, helping clients automate their processes.
One of the platform’s use cases so far has been to help automate the process of sorting and planting tulip bulbs thanks to 2D and 3D image recognition algorithms. The robot assesses the quality of the bulb and, if it’s suitable for planting, will pick it up and plant it.
In Belgian supermarket chain Colruyt, Robovision has been integrated into fruit and vegetable scales. For example, when a customer wants to weigh a product, a smart camera takes a picture, recognises the item and proposes the right label. It’s also been used to help improve computed tomography diagnostics, detect plastic waste in rivers and enhance quality control systems at manufacturing plants.
The company says the platform is integrated with more than 1,000 robots in 40 different countries.
It’s a no-code solution, which means that it can be used by end-users without the need for them to be qualified data scientists.
The company is headquartered in Ghent, Belgium. It’s currently 130 people strong and is planning to hire 70 more employees by the end of this year.
Where will the money go?
The funding round will help accelerate Robovision's US expansion — the company is hoping to address the growing labour force shortage stateside. “We’re looking to build a robust local presence to address the increasing demand for automated solutions in American factories,” says Florian Hendrickx, chief growth officer at Robovision.
The money will also be used to invest in R&D and growth in existing markets, with future office openings planned across Germany, France, the UK, the Middle East and Asia.
Who has invested?
- Target Global, a Berlin-based VC;
- Astanor Ventures, a Brussels-based VC;
- Red River West, a Paris-based VC.
